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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.9+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $37,404 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $57,787 | $80,992-28.7% | $96,534-40.1% | $75,173-23.1% |
| Participation rate | 74.1% | 71.8%+2.3pp | 76.0%-1.9pp | 67.2%+6.9pp |
| Annual return | -10.79% | 27.05%-37.8pp | 25.88%-36.7pp | 160.72%-171.5pp |
| Employer contribution / active EE | $2,110 | $2,283-7.6% | $2,965-28.9% | $2,671-21.0% |
| Participant deferral / active EE | $3,671 | $3,929-6.6% | $4,851-24.3% | $4,126-11.0% |
| Admin fee / account holder | $430 | $6,717-93.6% | $8,253-94.8% | $5,651-92.4% |